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Workers to Highlight Industry and Looming Challenges Around the Country Sept. 16-22, 2012
The aerospace and defense industry is a backbone of the U.S. economy, supporting more than 3.5 million jobs in all 50 states and posting the largest trade surplus of any U.S. industry. But looming automatic defense budget cuts pose a grave threat to these jobs and the local economies they fuel. Aerospace and defense workers and other stakeholders in labor, industry and local government will descend on Washington to make sure Congress understands the stakes during National Aerospace Week September 16-22.
“No one is better equipped to explain the consequences to Congress than the men and women who work on the front lines of this industry every day,” said AIA President and CEO Marion C. Blakey. “Their contribution to our economic and national security is unparalleled. Together we truly are an industry that is Second to None.”
Created by Congress, this year’s National Aerospace Week arrives at a time of unprecedented uncertainty. By September, less than four months will remain before $1 trillion in additional cuts required by the Budget Control Act of 2011 kick in. Leaders in Congress and the military have been sounding the alarm about the devastation that these cuts would cause to our national security and our industrial base, from a million lost jobs to a virtual shutdown of critical military modernization programs. NASA and FAA programs will also be affected by sequestration.
The Aerospace and Defense Industry in the U.S.: A financial and economic impact study, an AIA commissioned report by Deloitte, states that in addition to 3.5 million jobs supported and a positive trade balance of $42.4 billion, the industry produces $324 billion in revenues and contributes $38 billion to our tax base. In a separate study, noted economist Dr. Stephen Fuller at George Mason University found more than one million jobs and nearly $60 billion in lost wages are at risk from sequestration.
The clock is counting down – for more information on National Aerospace Week and to get involved, visit www.NationalAerospaceWeek.org and www.SecondtoNone.org. If you are interested in sponsoring an event or would like additional information on National Aerospace Week, you may contact Don Forest, AIA COO and National Aerospace Week national coordinator, at (703) 358-1004; donald.forest[at]aia-aerospace.org.
AIA Source: donald.forest[at]aia-aerospace.org